In this READY 2026 keynote address, InterSystems CEO Terry Ragon shares his perspective on the AI revolution and what it means for technology, business, and the people who build with it.
He discusses InterSystems commitment to going "all in" on AI, the company's internal programs for accelerating AI adoption, and the appointment of Don Woodlock as President — while affirming the company's continued focus as a multi-industry platform provider and its long-term private ownership structure.
Presented by Terry Ragon
Video Transcript
Below is the full transcript of the READY 2026 Welcome Keynote with Terry Ragon.
[0:00] And welcome, and thank all of you for coming here. It's always great to see all of you in person. And I'm always just amazed at how this has grown over the years. I was thinking earlier today about how when we first started, it was maybe 20 people in the room. And it certainly has changed since then.
[0:20] So this is an exciting time for technology. In fact, I would say it's probably the most exciting time for at least the last 30 years or so. AI is transforming our businesses, our work, and our lives in ways that are not yet entirely clear.
[0:37] Now, of course, there's concern about AI, and there will be growing opposition, as there often is with new technology. Change can result in a great deal of dislocation, and that dislocation can be painful. Yet in almost every case, technology has freed people up to do more interesting work. It's resulted in greater productivity and more rewarding roles — without a net long-term loss of jobs.
[1:05] Now, regardless of whether somebody is excited about AI or fearful, the genie is already out of the bottle, and we're not going back to a world without it. Personally, my attitude has always been to embrace the future, to embrace new technology, and I believe the future belongs to those who do.
[1:24] And therefore, we decided to go all in with AI shortly after ChatGPT was announced a few years ago. Of course, keeping up with the latest developments in this rapidly evolving field can be very challenging for companies. So how do you educate your employees? How do you accelerate adoption?
[1:43] So we have a couple of internal initiatives that we use to deal with this. We have hackathons where internal teams must learn about the latest in AI to successfully build a project. We also formed a centralized team to help identify and support internal opportunities for AI adoption. And of course, recent computer science graduates all have some knowledge of AI, although it needs to be continually refreshed.
[2:12] Now, in addition to going all in with AI, InterSystems is also going through another major change. And as you know, back in January, I appointed Don Woodlock to be president of the company.
[2:26] Now, let me be very clear — I am not retiring. I will remain CEO, but my role has changed. Don is responsible for all day-to-day management of the company while I get to focus on strategy and technology, which are the parts that I've always loved.
[2:44] So, why now? I decided to make this change for two reasons. The first is that the company is in a particularly strong state, so I felt it was just the right time. The second reason is that continual evolution is always important. We need to stay ahead of the market and technology changes. And as we get larger, I think that requires an even greater focus on defining our strategies for the future and the technologies we need to get there. So that's what I love doing, and that's what I'm going to focus on.
[3:18] Now, one thing that will not change is our values or our culture. During my address at Global Summit in 2023, I spoke about how strong, stable cultures are hard to change, and how a strong culture is a good indicator of future success. I also said that when it comes time to make a change in management, it will be somebody who embraces and lives our values and culture, someone who has a strong technical background, and somebody who loves technology.
[3:50] This is clearly all true of Don. Don is an MIT graduate who started as a programmer. He's passionate about technology. He's embodied our customer-first culture since he first arrived. And he's been very prominent in helping incorporate AI into all of our products and our business.
[4:09] Now, for the last eight years, Don has been our Vice President of Health Solutions, and that will likely cause some speculation as to whether we are only going to focus on health care. So let me be very, very clear about this — that is not the case. We are fully committed to being a multi-industry company and further expanding our database platforms business in other verticals.
[4:35] What also won't change is our financial structure. I have made arrangements to ensure that the company will remain private — in a well-governed trust in perpetuity — free from the financial pressures of investors that could affect our culture and long-term focus.
[4:52] So with that, thank you.
[5:01] So with that, we have a lot to talk about at the show today, so let's just get right to it. But first, I just want to say once again — thank you. Thank you for your business. Thank you for putting your trust in us, and thank you for being here today. Thank you.